Poland Inflation August 2019

Poland: Inflation eases in August

August 30, 2019

Consumer prices were unchanged over the previous month in August, matching July’s reading, according to provisional data released by the Poland’s Statistical Institute (GUS). Prices were stable across all the main categories. Core consumer prices in July (the latest month for which data is available) increased 0.1% in month-on-month terms, following June’s 0.4% rise.

Inflation inched down to 2.8% in August from 2.9% in July, which had marked the fastest increase since October 2012, and thus remained above the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. This was due to price falls for utilities, and fuels more than offsetting faster price increases for food and non-alcoholic beverages. For its part, core inflation in July rose to 2.1% from June’s 1.9%, the highest reading since July 2012.

All told, annual average inflation inched up from July’s 1.8% to 1.9% in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.1% in 2019, which is down 0.2 percentage points from last month’s projection. For 2020, the panel sees inflation averaging 2.5%.

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